The MA Candles Forex Trend indicator for MT4 (Metatrader 4) follows the most profitable currency trend with the help of colored candlesticks.
The indicator appears in the main MT chart as blue and red colored candlesticks that provide easy trend direction for any time frame.
Buy & Sell Trade Example
- A blue colored candlestick represents a buy signal.
- A red colored candlestick represents a sell signal.
The MA Candles Forex Trend indicator can be used for both trade entry and exit or as a trend filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “MA Candles.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the MA Candles Forex Trend mt4 indicator in action on the activity chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the MA Candles Forex Trend indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trend
Does the indicator repaint? No.
MA Candles & Bollinger Bands MACD Indicator Forex Swing Strategy
This swing trading strategy combines the MA Candles Forex Trend Indicator and the Bollinger Bands MACD Signals Indicator to capture medium-term intraday trends.
Blue candles from the MA Candles indicator signal bullish moves, and red candles indicate bearish moves.
The Bollinger Bands MACD histogram confirms momentum with green for buy trends and violet for sell trends.
This strategy works best on M15 and H1 charts for pairs like EUR/USD, GBP/USD, USD/JPY, and AUD/USD.
Buy Entry Rules
- The MA Candles indicator shows blue candles indicating a bullish trend.
- Bollinger Bands MACD histogram is green, confirming bullish momentum.
- Enter a buy trade at the opening of the next candle after both conditions align.
- Place a stop loss below the most recent swing low.
- Set take profit at 15–30 pips or use a trailing stop.
- Close the trade immediately if the MA Candles indicator turns red or the histogram turns violet.
Sell Entry Rules
- The MA Candles indicator shows red candles indicating a bearish trend.
- Bollinger Bands MACD histogram is violet, confirming bearish momentum.
- Enter a sell trade at the opening of the next candle after both conditions align.
- Place a stop loss above the most recent swing high.
- Set take profit at 15–30 pips or use a trailing stop.
- Close the trade immediately if the MA Candles indicator turns blue or the histogram turns green.
Advantages
- Clear trend confirmation with MA Candles and momentum validation via the Bollinger Bands MACD indicator.
- Adaptable for both M15 and H1 charts.
- Helps identify swing trades within intraday trends.
- Suitable for major currency pairs with strong trend moves.
Drawbacks
- Indicators may lag during rapid market reversals.
- False signals can appear in sideways or low-volatility markets.
- Requires active monitoring for timely exits.
Example Case Studies
Case Study 1: EUR/USD M15 Chart
The MA Candles indicator showed blue candles, and the Bollinger Bands MACD histogram turned green.
A buy trade was entered at the next candle with a stop loss below the recent swing low and a take profit set at 20 pips.
The trade reached the target, and the position was closed when the histogram turned violet.
Case Study 2: GBP/USD H1 Chart
The MA Candles indicator showed red candles, and the Bollinger Bands MACD histogram turned violet.
A sell trade was entered at the next candle with a stop loss above the recent swing high and a take profit set at 25 pips.
The trade reached the target, and the position was closed when the candles turned blue.
Strategy Tips
- Combine entries with key support and resistance levels for higher accuracy.
- Adjust lot sizes based on account balance and risk tolerance.
- Exit trades immediately if the MA Candles or Bollinger Bands MACD histogram changes direction.
- Test the strategy on a demo account before live trading to familiarize yourself with signals.
